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Grain shipping costs on the Mississippi River have surged to an almost eight-year high as importers, including China, turn to U.S. soybeans and corn. Dry weather in Brazil and Russia's invasion of Ukraine, which has halted Black Sea corn shipments, drive the demand shift.
Barge rates at St. Louis reached $34.75 per short ton, the highest since 2014.
Higher barge freight raises the delivered cost of U.S. grain and meal to Gulf export terminals and inland feed buyers, supporting domestic corn and soybean basis and feed costs. Elevated water levels also cut barge loads by about 15%, tightening capacity further.
gcaptain.comBloombergMar 18, 2022Not enough comparable past events yet for a historical read.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
